JD Wetherspoon sure to have plenty to say in annual update


JD Wetherspoon (LSE:JDW) (LSE:JDW) PLC’s results for the year to July should be another update on the Covid-recovery theme.

Consensus is for turnover in the year to July 2021 of around GBP799mln and a loss of GBP129mln, but the market’s attention will be focused on the FTSE 250 group comments about the pace of recovery.

Rival pub chains have been reporting sales are back to 90% of pre-pandemic levels and ‘Spoons too should have seen customers steadily return say analysts.

What chairman Tim Martin says about the UK’s recent shortage crisis will also be closely watched.

Wetherspoons hit the headlines recently after its pubs temporarily ran out of some Carling and Coors beers due to the UK lorry driver shortage and industrial action at its supplier.

Brokers suggest staff shortages and rising purchasing, distribution and energy costs will be more pressing ongoing issues for the group and might result in its famously low prices having to go up.

Friday usually also has some UK economic data and tomorrow it’s monthly manufacturing statistics, with how the shortage of lorry drivers and soaring energy prices are affecting the industrial hub of Britain the likely focus.

Consensus is for an unchanged number of 56.3.

Friday 1 October:

Finals: J D Wetherspoon plc

Economic data: UK manufacturing PMI, US personal income/spending


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